EUR/USD Price Analysis: A deeper pullback is seen below 1.1272

EUR/USD struggles for direction amidst a cautious price action.
The loss of the 1.1270 region opens the door to extra losses.

Pablo Piovano FXStreet

Consolidation remains the name of the game around EUR/USD ahead of the release of the US labour market figures on Friday.

In the meantime, bouts of weakness should initially put the 1.1270 region to the test. If breached, then spot could slip further back and retest the weekly low at 1.1234 (December 20) ahead of the December’s low at 1.1221 (December 15).

The broader negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1742.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.13
Today Daily Change	29
Today Daily Change %	0.08
Today daily open	1.1291

Trends
Daily SMA20	1.1307
Daily SMA50	1.1356
Daily SMA100	1.1528
Daily SMA200	1.1744

Levels
Previous Daily High	1.1332
Previous Daily Low	1.1285
Previous Weekly High	1.1386
Previous Weekly Low	1.1274
Previous Monthly High	1.1386
Previous Monthly Low	1.1222
Daily Fibonacci 38.2%	1.1303
Daily Fibonacci 61.8%	1.1314
Daily Pivot Point S1	1.1273
Daily Pivot Point S2	1.1255
Daily Pivot Point S3	1.1226
Daily Pivot Point R1	1.132
Daily Pivot Point R2	1.135
Daily Pivot Point R3	1.1368

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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